UK Is Biggest User Of Contactless Payment Technology

Jul 06, 2015

Contactless payment cards have been used more than a billion times in Europe in the past 12 months, the media reported on Monday.

Total contactless spending over the year came in at €12.6bn (£9bn), The Telegraph said in a report, citing data from Visa Europe.

Out of that figure, €1.6bn (£1.14bn) happened in March alone. This is three times higher than the amount spent in March 2014.

UK customers are leading the European contactless payment charge, the report says, with British shoppers spending €330m (£234m) in March across 52.6m transactions using contactless payments.

“The popularity of contactless will only increase in future as we experience the next generation of digital payments, where the simplicity and convenience is extended to mobile and wearable near field communications technology,” Visa Europe’s Sandra Alzetta was quoted as saying.

“We’re proud to have led the way in establishing contactless payments in Europe, and excited to be at the forefront as contactless payments become increasingly available to everyone.”

Contactless payment has worked wonders in the transport industry. In March, Transport for London (TfL) said it was the fastest growing contactless Visa merchant in Europe, six months after it was launched on buses, tubes and trains.

TfL said the number of contactless transactions in a day hit the one million mark on 13 March, with over 14 per cent of all pay-as-you-go journeys made through the technology.

The contactless payment works using the Near-field communication (NFC) technology, which allows the shopper to pay by touching their card on the payment terminal.




Author: Sead Fadilpašic
View the original article here.
Published under license from ITProPortal.com

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